Spend Less Save More with a Savings Plan for 2014

Spend Less Save More with a Savings Plan for 2014

Happy New Year from Spend Less Save More! I hope everyone has had a save New Years Eve and looking for a prosperous new year. I know I am so let’s get started on making that happen with the 52 week challenge if you haven’t heard of the 52 week challenge then it’s time to begin yours.

There are a few ways the savings challenge can be done here are the ones I know of you can chose the one that works best for you the point is to save something for emergencies and to ensure that you remain debt free as the year progresses.

1. The original 52 Week challenge

The original 52-week money challenge has an extremely simple premise. On week 1, you’ll save $1. On week 2, you’ll save $2. On week 3, $3 and so on. By the time you’ve deposited that $52 on week 52, you will have yielded a total savings of $1378! To make keeping track of the plan simpler, many people choose to deposit their savings on a specific day of the week, or if you are paid weekly, on payday. I use my calendar as a reminder each Saturday morning so I move the cash from my checking account to my savings account and I also make sure my kids do the same so that they begin savings it ‘s never too early.

2. The “Broke During the Holidays” Variation

If you find that saving money is nearly impossible during the holiday season, consider this variation which reverses the plan. Instead of saving $1 the first week of January, save the largest amount of $52 first. You’ll end up with the same savings of $1378, but by the time you get to the month of December, you’ll only be required to save between $1 and $4 each week, shopping a little easier.

3. The Saver Plan

If you have the motivation to set aside some serious cash, try this variation of the 52-week plan. Under this plan, you’ll save daily rather than weekly, based on the date. On January 1st, save $1. On January 2nd, save $2 and so on. Once you deposit the $28 on January 28th, you’ll have just under $500 in January alone. If you can manage to keep that up the whole year, you’ll end up with a whopping savings of nearly $6,000! Much of this daily saving can occur in the change we receive daily or you may consider cutting out costly fast food or coffee shops.

 4. The Bi-Weekly Plan If your budget is too tight to follow any of the plans but you still want to stash some cash during the year, and we should all have an emergency fund, consider trying the bi-weekly plan. With this plan, you’ll simply set aside the corresponding amount for each week, but you’ll only save for 26 weeks instead of 52. The first week of January, set aside $1. Skip the next week and set aside $2 the following week. Skip the next week and set aside $3 the following week, and so on. With this plan you would never have to save more than $26 in one go and you would still wind up with an extra $351 in your pocket by the end of the year it’s not as much as the other plans, but it does pay for Christmas gift for most of us and after all entering the following year debt free from Christmas purchases is worth it.


No matter which you choose I hope that you begin the year optimistically and with resolve to spend less and save more. For more tips on how to save this year visit www.where2save.com

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